Refinance Calculator
Should I refinance? Use this calculator to estimate how much a refinance will cost. Simply use the sliders or type in your loan details to see how a refinance could benefit your financial situation.
Current Loan Details
New Loan Details
{{result.monthlyPrincipalInterestCurrency}}
{{result.monthlySavingsCurrency}}
{{result.interestSavingsCurrency}}
{{result.breakEvenDisplay}}
Thingsto Know
How should I use this calculator?
Is a refinance worth paying the closing costs?
First, a little background: When you closed on your home loan, you paid closing costs. What some people don’t realize is a refinance also involves closing costs. So – in almost all cases – refinancing a home loan is only a good idea when the amount you’ll save in interest over the life of the loan is greater than the closing costs you’ll pay up front.
I'm interested in refinancing my loan. What should I do next?
After you’ve given the calculator a go and you’re ready to refinance, contact one of our loan officers for a complimentary consultation. They will be able to help you determine if options like a cash out refinance could be right for you... or if you might benefit from refinancing simply to lower your interest rate (and, as a result, your monthly mortgage payment amount) or reduce the life of your loan to a shorter term. In some cases, going from an adjustable rate mortgage to one with a fixed rate might also be in your favor. The possibilities really are endless!
Default
*All loan requests are subject to credit approval as well as specific loan program requirements and guidelines. With Adjustable Rate Mortgage loans, the rate is variable and may increase or decrease every year after the initial fixed rate period based on changes to an index. This could result in an increase in the monthly payment.
